US Farm Trust Review

US Farm Trust Review 2026: Institutional Farmland REIT with $1M Minimum and Zero Public Transparency

Last verified: 2026-04-12 | Overall rating: 2.5/5

The 30-Second Verdict

US Farm Trust (now rebranding as Goldcrest Farm Trust) is a closed-end private REIT managing $1 billion+ in farmland assets across 70,000+ acres, primarily for pension funds and institutional investors. With a $1,000,000 minimum, accredited-only access, no public fee or return disclosures, and no secondary market, this is an institutional vehicle that most individual investors cannot and should not access. The management team has strong credentials (former Goldman Sachs, Bank of America), but the complete lack of public transparency makes independent evaluation impossible.

What Is US Farm Trust and How Does It Work?

US Farm Trust is a closed-end private REIT that acquires, manages, and leases high-quality row crop farmland across multiple U.S. states including Idaho, Oregon, Arkansas, Mississippi, Colorado, and Arizona. The REIT uses sale-leaseback and triple-net lease structures, meaning farm operators lease the land and bear operating costs. The company has closed three funds totaling over $1 billion in AUM, primarily backed by pension funds. It operates a fully integrated model handling sourcing, acquisition, farm management, and eventual exit.

Who Is US Farm Trust Best For?

US Farm Trust is best for institutional investors and ultra-high-net-worth individuals seeking farmland as a long-term inflation hedge and portfolio diversification tool. It is designed for pension funds, endowments, and family offices with $1M+ to allocate. If you are a retail investor interested in farmland, look at AcreTrader ($10,000 minimum), FarmTogether ($15,000 minimum), or Steward ($100 minimum) instead. These platforms are designed for individual investors with accessible minimums and transparent terms.

Fees

• Management fee: Not publicly disclosed
• Performance fee: Not publicly disclosed
• Advisory fee: Not publicly disclosed
• Other fees: Private fund documentation only shared with qualified investors

On a $1,000,000 minimum investment, annual fees cannot be calculated because the fee structure is not publicly disclosed. All fee information is restricted to private offering documents available only to qualified investors.

Minimum Investment

$1,000,000.

Accreditation Requirements

Yes, accredited investors only. The platform primarily serves institutional investors (pension funds, endowments) rather than individual accredited investors.

Liquidity — How Do You Get Your Money Out?

Illiquid. As a closed-end private REIT, there is no public trading, no secondary market, and limited exit options. Liquidity is dependent on company-initiated farm sales or fund wind-down events. Investors should expect multi-year holding periods consistent with farmland investment cycles.

Historical Returns

Not publicly disclosed. US Farm Trust claims to outperform industry benchmarks but provides no specific return data in public sources. Performance information is available only in private offering documents shared with qualified investors.

Past performance is not indicative of future results. Farmland values are subject to agricultural market conditions, weather, and commodity prices.

Regulatory and Legal Structure

US Farm Trust operates as a private REIT regulated by the SEC. The company is managed by US Farm Trust Advisors (now Goldcrest Farm Trust Advisors), headquartered in New York with offices in San Antonio, TX. Three funds have closed with institutional backing. Specific SEC filing details and FINRA registration status are among the unverified fields.

Pros

• Experienced management team including Steven Feldman (former Goldman Sachs Infrastructure Partners) and Tommy Funk (former Bank of America National Farmland Acquisition Manager)
• $1B+ AUM across three closed funds demonstrates institutional investor confidence
• 70,000+ acres across six states provides geographic diversification
• Fully integrated model from sourcing through management to exit
• Triple-net lease structures reduce operational risk for investors
• Strong institutional backing from major pension funds

Cons

• $1,000,000 minimum investment excludes virtually all individual investors
• Fee structure completely undisclosed to the public
• Historical returns not independently verified or publicly available
• No secondary market, no public trading, and limited exit options
• Minimal online presence and public information available
• No mobile app, no investor portal indicated
• Accredited institutional investors only
• Rebranding to Goldcrest Farm Trust may cause confusion

The Bottom Line

US Farm Trust is a legitimate institutional farmland REIT with credible management, significant AUM, and diversified acreage. The team's prior success (AgCoA, sold to Canada Pension Plan Investment Board) and consistent institutional backing across three fund closings speak to operational competence.

However, this platform is essentially invisible to individual investors. The $1M minimum, institutional-only focus, and complete absence of public fee or return disclosures make it impossible to evaluate as a consumer product. It is not designed to be one.

If you are an institutional allocator or family office with $1M+ to deploy in farmland and can negotiate access to the private offering documents, US Farm Trust may warrant a closer look. For everyone else, the retail farmland platforms offer accessible alternatives with transparent terms.

ModernAlts may receive compensation if you open an account with platforms reviewed on this site. This does not influence our editorial ratings or analysis. Alternative investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site constitutes investment, legal, or tax advice.